As said and expected the markets remained highly volatile and choppy and reacted from the stiff resistance zones of 5150 on nifty front.
Technically there is no signs of major weakness yet or signs of reversal yet , though some signs of tiredness and consolidation looks valid on trought , which calls for caution.
However the indices have managed to stay above the support zones of 5090 levels on nifty front , which are strong supports for the indices.
So as far as the crucial levels are held the markets have the potential to bounce back after any initial blip.
On the extreme lower side 4900 is a major and strongest support level for any fall on nifty front and is also a stoploss for all longs.
However for coming sessions 5090 looks like a level to watch , below which some quick fall to 4900 and a test of crucial levels looks viable.
So from a trading point of view , one still needs to buy on dips close to crucial levels , keeping it as a stoploss for all longs and exit near stiff resistance zones of 5150- 5175 levels on nifty.
Structurally the indices looks like in consolidation and side ways movement and volatility with a probable two sided movement looks viable for coming sessions.
So as far as 5090 holds and sustains , the trend for short term remains up.
The supports for the nifty is at 5090 levels and resistance at 5200 levels.
The supports for the sensex is at 17025 levels and resistance at 17600 levels.
Stocks to watch
Jp associates , triveni eng , ajmera looks good
Some picks for samvat 2066 - 2067
GMDC - TARGETS 350
PRAJ INDS TARGETS 300
SUPREME PETRO TARGETS 100
HCC TARGETS 350
PRAKASH INDS 300
Yesterday’s calls sent via sms and messenger
Nifty – sell at cmp 5152 sl 5171 targets 5110 , went 5091.10
Nifty 5100 pe – buy at cmp 52 sl 45 targets 69 , went 82.75
Tisco – buy at cmp 568 sl 565 targets 575 , went 579.40
Sail – buy at cmp 192.30 sl 191 targets 195 , went 198.20
Tisco 580 ca – buy at cmp 11.40 sl 10.50 targets 14 , went 15.80
Icici bank 960 ca – buy at cmp 22 sl 20 targets 26 , hit sl
Dii Triveni engeneering – buy at cmp x sl x targets x – holding
Fii Dlf – buy at cmp x sl x targets x – holding
Punter Jp associates – buy at cmp x sl x targets x – holding
Jackpot Sail – buy at cmp x sl x targets x – holding
Friday’s Punter Nagarjuna fertilizers – booked full profits at 38 , long from 35.50
Friday’s Jackpot escorts – booked full profits at 131 , long from 122
Fridays’s Dii Bajaj hind – booked full profits at 236 , long from 204
Friday’s Fii Anant raj inds – booked full profits at 162.10 , long from 145
